Gene therapies drive growth of genomics market, says GlobalData
GlobalData’s latest report reveals that the market for genomic therapies is demonstrating significant growth, with sales projected to increase from $20.1 billion in 2024 to $89.8 billion in 2030, at a CAGR of 28.3 per cent
The integration of genomics into the pharmaceutical industry has allowed researchers to better understand the genetic factors underlying diseases, leading to the development of more targeted and effective therapies. Many of these therapies are designed to treat rare diseases that affect small patient populations. Generating $2.6 billion in sales in 2024, gene therapies are the key drivers of the growth of the genomics market, says GlobalData.
GlobalData’s latest report, “Transformational Power of Genomics in Pharma,” reveals that the market for genomic therapies is demonstrating significant growth, with sales projected to increase from $20.1 billion in 2024 to $89.8 billion in 2030, at a compound annual growth rate (CAGR) of 28.3 per cent. There are various types of genomic therapies, such as gene therapies, oncolytic viruses, oligonucleotides, messenger RNA (mRNA) vaccines, and recombinant vector vaccines.
GlobalData estimates gene therapies to grow to $30.9 billion by 2030, representing the highest CAGR of 50.8 per cent during 2024-30 in comparison to other key molecule types. This substantial growth in sales is forecast to be driven by Sarepta Therapeutics’ Elevidys (delandistrogene moxeparvovec) for the treatment of Duchenne muscular dystrophy (DMD), with sales forecast to reach $2.75 billion in 2030. Other key drivers include Novartis’ Zolgensma (onasemnogene abeparvovec) for the treatment of spinal muscular atrophy (SMA), with a sales forecast of $2.1 billion in 2030.
Gaffar Aga, Strategic Intelligence Analyst, GlobalData, comments, “This growth is driven by factors such as the implementation of artificial intelligence (AI) and machine learning (ML) to efficiently analyze expanding genomic datasets, allowing researchers to accelerate processes such as drug discovery and development within the genomics landscape.”
Furthermore, the oligonucleotide market is exhibiting growth in all sectors. The antisense RNAi oligonucleotide market is forecast to grow from $2.5 billion in 2024 to $18.7 billion in 2030, at a CAGR of 39.9 per cent. The antisense oligonucleotide market is also exhibiting growth, with the market forecast to grow from $3.1 billion in 2024 to $14.3 billion in 2030 at a CAGR of 28.8 per cent.
Additionally, the mRNA vaccine market is forecast to exhibit steady growth, with sales increasing from $11 billion in 2024 to $17.9 billion in 2030 at a CAGR of 8.4 per cent.
Finally, the recombinant vector vaccine market is expected to generate the lowest number of sales, reaching $1.34 billion by 2030 at a CAGR of 31.4 per cent.
George El-Helou, Strategic Intelligence Analyst, GlobalData, concludes, “The field of genomics has the potential to revolutionise a wide range of diseases, offering alternative pathways of therapeutic options with high unmet medical needs. However, several market barriers remain, including the high costs associated with drug discovery, manufacturing, and logistical procedures within the industry.”